Never miss an insurance renewal again
A lapsed health policy can reset waiting periods you spent years clearing. A lapsed motor policy makes the car illegal to drive. Neither happens because someone decided to stop paying.
The habit that prevents the problem
Once a year, list every policy the family holds: insurer, type, sum assured, premium, frequency, renewal date and who it covers. Most families discover at least one surprise — a duplicate, a lapse, or a nominee who has not been updated in a decade.
What good looks like
Every renewal date known in advance, every premium visible in the monthly budget, total life and health cover known as a single number, and at least two people in the household who could find the documents. That is the whole discipline.
The one that matters most
Health cover continuity. Waiting periods for pre-existing conditions restart if a policy lapses, which can undo years of holding a policy you rarely claimed on. Set the reminder for a month before, not a week before.
Where FamTally comes in
FamTally keeps the whole policy register in one place, totals your life and health cover across the family, puts premiums into the monthly cashflow at the right frequency, and sends renewal reminders ahead of the date. Everyone you invite can see it, so the knowledge does not live with one person. Free to use.
Stop doing this in a spreadsheet
FamTally keeps your loans, income, expenses, assets, insurance and goals in one place, forecasts five years ahead, and answers questions about your own numbers. Free, and built for Indian families.
Start freeQuestions people ask
What happens if a health policy lapses?
Waiting periods for pre-existing conditions can reset, and the insurer may require fresh underwriting. A short grace period usually exists, but relying on it is expensive.
How do I know if we have enough cover?
Total the sum assured across all life policies and all health policies separately, then compare each against the benchmark for your income and family size. Gaps are usually obvious once the totals exist.
How should premiums be budgeted?
Divide the annual premium by twelve and treat it as a monthly cost. An annual premium is not a surprise — it is a monthly expense you have chosen to pay once a year.